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Short sterling strip has ticked......>

SHORT-STERLING
SHORT-STERLING: Short sterling strip has ticked higher following UK CPI data,
but it took the Dec8 contract a long-time to raise by 1 ticks to 99.16. While
market pricing of a rate hike in August remains little changed at 52% and at 86%
for November. 
- Despite the slightly inconclusive UK data this week, markets still hold out a
good chance of a rate hike in August. There are no BoE speakers scheduled
between now and the BoE MPC meeting next week and there is only second tier data
as well.
- Eyes now on Fed FOMC tonight and ECB decision tomorrow. 

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